What Is Enterprise Resource Planning (ERP)?

The acronym ERP stands for enterprise resource planning, commonly called "business management software." It's like a robot that does all your business responsibilities, so you can nap or play video games. ERP connects your business's finance, HR, sales, and production divisions into one database. Thus, everyone can get the information they need without having to ask. Take, for instance, the scenario in which you run a cookie factory and are interested in determining the total number of cookies sold during the current month. In the past, you had to ask your sales team, which would then have to search through mountains of documents. However, if you are using an ERP system, you only need to log in and see the sales dashboard. Easy peasy, lemon squeezy! ERP reduces data duplication and human error. You have to understand that whenever information is input into numerous different systems, there is always the possibility of mistakes being introduced. However, ERP stores all data in one place, so there's only one truth. Another advantage of enterprise resource planning software is that it aids in decision-making. With all the data in one location, you can run reports and analyze the data in real-time. You will be able to rapidly observe the areas in which your company is prospering and the areas in which it is suffering, allowing you to make adjustments appropriately. So, that's the fundamental concept underpinning ERP right there. Could you provide some examples of the technical terms you requested? Here are a few examples: Integration brings together several departments and computer systems. A database is an information that can be easily accessed and changed. A "dashboard" is a graphical representation of data usually used to monitor how things are going. The duplication of data in several different systems Analyses done in real-time